Provision of a senior unsecured loan in the amount of up to EUR 8 million in a single tranche to Banka Intesa Beograd ("BIB"), a joint-stock company incorporated in Serbia, for on-lending to eligible women-led SMEs in line with the criteria under Western Balkans Women in Business Programme Phase II ("WB WiBP II").
The proposed operation is the fifth successive loan to BIB under WB WiBP following the full and successful utilisation of the previous facilities.
The project will contribute to women's economic inclusion by supporting women-led SMEs' access to finance and business advisory services.
ETI score: 68
The project contributes to the objectives of the WB WiBP II, supporting the Transition Impact qualities of Inclusive and Competitive:
Inclusive: The project will contribute to women's economic inclusion by supporting women-led SMEs' access to finance and business advisory services, while demonstrating the business case for scaling-up lending to the women-led SME segment.
Competitive: Transition impact is expected to derive from market expansion in line with EBRD Financial Intermediaries Framework.
BANCA INTESA AD BEOGRAD
BIB is the largest bank in Serbia and a market leader in corporate and retail banking. As of 3Q 2021, BIB had a market share of 15.4% by total assets, 15.6% by net loans and 16.5% by deposits. BIB has been one of the most profitable banks in Serbia for many years, thanks to economies of scale, good diversification and efficient operations. It has approximately 3,000 employees and a branch network of 150 offices across Serbia.
EBRD Finance Summary
Total Project Cost
The project will support the market segment as a whole and enable the continuation of the successful implementation of the previous four WiB projects. Non-TC grant, in the form of First Loss Risk Cover, would incentivise BIB to penetrate this segment further and encourage them to mainstream providing financing to women-led businesses. The TC package will support (i) the PFI in expanding their financial and non-financial services to WiB segment beyond what BIB has achieved during the previous period and (ii) women entrepreneurs in equipping them with key managerial and financial skills through seminars. It will also assist BIB in mobilising longer-term external funds which will help to diversify the bank's funding base and expand lending to private women-led SMEs in Serbia.
Environmental and Social Summary
Categorised FI (2019 ESP). BIB is an existing client of the Bank and has been satisfactorily reporting on the implementation of EBRD's E&S Risk Management Procedures and on its compliance with PRs 2, 4 and 9. BIB will be required to continue to comply with the PRs and the E&S Risk Management procedures for Corporate Loans, SME and Micro Loans, including adherence to the expanded EBRD E&S Exclusion List and Referral List introduced with ESP 2019 and submit Annual Environmental and Social Reports to the EBRD on E&S matters and on the implementation of the Performance Requirements.
Technical Cooperation and Grant Financing
Non-TC funds are provided by the EBRD Shareholders Special Fund (SSF) in the form of First Loss Risk Cover (FLRC) to BIB in accordance with the Policy Statement. The Programme is supported by TC funds to support capacity building within the participating financial institution and in women-led SMEs, jointly provided by the government of Italy, Luxemburg, Sweden and SSF at the framework level.
Company Contact Information
381 11 201 1400
381 11 201 1260
Milentija Popovica 7b 11070 Novi Beograd
PSD last updated
15 Feb 2022
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